HCLTech Q4 results: Net profit flat at Rs 3,995 crore, revenue up 7%

IT services firm HCLTech on Friday reported a consolidated net profit of Rs 3,995 crore for the quarter that ended on March 31 of financial year 2023-24 (Q4 FY24). This was an increase of 0.35 per cent from Rs 3,981 crore reported during the year-ago period. Sequentially, net profit fell 19.3 per cent from Rs 4,951 crore in Q3.

The company reported a consolidated revenue from operations of Rs 28,499 crore, up 7.1 per cent year-on-year from Rs 26,606. Quarter-on-quarter, revenue went up 0.19 per cent from Rs 28,446 crore.

Total income of the company was Rs 28,915 crore, up 6.86 per cent from Rs 27,059 crore reported during the same period last year. Sequentially, income rose marginally by 0.34 per cent from Rs 28,816 crore.

Last-twelve-month (LTM) attrition at HCL was 12.4 per cent, down from 19.5 per cent in Q4 FY24, the company said in an exchange filing.

For the entire financial year, the IT company reported a net profit of Rs 15,710 crore, up 5.8 per cent from Rs 14,845 crore reported at the end of FY23.

Revenue from operations for FY24 was Rs 1,09,913 crore, up 8.3 per cent from Rs 1,01,456 crore at the end of FY23 and total income was also up 8.3 per cent at Rs 1,11,408 crore year-on-year from Rs 1,02,814 crore.

For financial year 2024-25, HCLTech expects company constant currency (CC) revenue and services revenue growth to be between 3-5 per cent year-on-year.

Earnings before interest and taxes (Ebit) margin is expected to be between 18-19 per cent, the company said.

The board of directors has declared an interim dividend of Rs 18 per equity share of Rs 2 each of the company for the financial year 2024-25.

Shares of HCLTech closed trading at Rs 1,472.30 ahead of the company's Q4 FY24 results.